The sale, if completed, means Phua will no longer the single largest shareholder and that he is giving up control of the company.
SINGAPORE (Sept 16): Phua Chian Kin, the former CEO of TEE International, has signed a term sheet to sell 150 million shares he held in the company at 6 cents per share, or $9 million.
The quantum of shares represents some 23% of the entire company, TEE International announced on Sept 16.
